Brookstone Capital Management Grows Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Brookstone Capital Management has increased its holdings in Cadence Design Systems, Inc. by 32.3%, owning 23,057 shares valued at approximately $7.1 million as of the latest SEC filing.
• Cadence Design Systems reported a $1.65 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $1.28 billion, reflecting a 20.2% year-over-year growth.
• Thirteen research analysts currently rate Cadence Design Systems with a Buy rating, setting a consensus price target of approximately $369.71 per share.

Brookstone Capital Management increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 32.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,057 shares of the software maker's stock after purchasing an additional 5,627 shares during the period. Brookstone Capital Management's holdings in Cadence Design Systems were worth $7,105,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CDNS. Vanguard Group Inc. boosted its position in Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after buying an additional 429,955 shares during the period. Jennison Associates LLC increased its stake in shares of Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after acquiring an additional 1,054,702 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock valued at $1,202,733,000 after purchasing an additional 312,757 shares during the last quarter. Invesco Ltd. grew its position in Cadence Design Systems by 14.0% during the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after purchasing an additional 296,983 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Cadence Design Systems by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker's stock valued at $571,208,000 after acquiring an additional 8,361 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $330.51 on Thursday. The stock has a market capitalization of $90.06 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 4.37 and a beta of 0.99. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm's 50 day simple moving average is $347.32 and its 200-day simple moving average is $320.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 30th. Stifel Nicolaus lifted their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Piper Sandler reiterated a "neutral" rating and set a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Needham & Company LLC boosted their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Robert W. Baird boosted their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $369.71.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares of the company's stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John M. Wall sold 7,500 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the transaction, the chief financial officer directly owned 70,715 shares of the company's stock, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,680 shares of company stock valued at $3,729,852. 1.99% of the stock is currently owned by insiders.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

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